Boustead Holdings Bhd, which has provided irrevocable undertaking for the rights issue of Pharmaniaga Holdings Bhd, has provided assurance that it has adequate resources to meet its undertaking obligations, Pharmaniaga said.

Boustead affirmed it has enough to take up Pharmaniaga's rights issue

KUALA LUMPUR (Feb 22): YTL Power International Bhd, whose shares have continued to rise by 48% since just the start of 2024, sustained its performance with net profit up four-fold to RM845.12 million in the second quarter ended Dec 31, 2023 (2QFY2024), from RM198.82 million last year.

YTL Power’s 2Q net profit up four fold lifted by Singapore power biz

Dayang Enterprise Holdings Bhd’s net profit rose sixfold in the fourth quarter ended Dec 31, 2023 (4QFY2023) to RM93.79 million from RM12.52 million a year ago, continuing its rebound for the third consecutive quarter on improved margins.

Dayang books record revenue in FY2023, best profit since FY2019

A consortium between Citaglobal Bhd and Reneuco Bhd has secured a 30-year concession to supply electricity to the East Coast Rail Link (ECRL) from project owner Malaysia Rail Link Sdn Bhd (MRL).

Citaglobal-Reneuco consortium wins 30-year concession to power up ECRL

Kotra Industries Bhd's net profit fell 29.22% in the second quarter ended Dec 31, 2023 (2QFY2024) to RM11.62 million from RM16.41 million due to lower sales and marginally higher costs incurred by the pharmaceutical and healthcare products manufacturer.

Kotra Industries' 2Q hit by lower sales and higher costs; raises dividend to 12.5 sen

Petronas Chemicals Group Bhd (PCG) said it has signed a memorandum of understanding (MOU) with Sarawak state-owned Sarawak Petchem Sdn Bhd to conduct a joint feasibility study to develop a low-carbon ammonia and urea plant in Bintulu, Sarawak.

Petronas Chemicals inks MOU with Sarawak Petchem for low-carbon ammonia plant in Sarawak, confirms The Edge report

KUALA LUMPUR (Feb 20): Hume Cement Industries Bhd posted its fifth consecutive quarter of earnings growth in the quarter ended Dec 31, 2023 (2QFY2024), as net profit rose 13-fold year-on-year (y-o-y) to RM59.06 million, on improved cement selling prices and sales volume.

Hume Cement’s 2Q profit up 13 fold y-o-y and 12% q-o-q for best showing since 2003

Gas Malaysia Bhd net profit rose 9.56% to RM104.33 million in the fourth quarter ended Dec 31, 2023 (4QFY2023) from RM95.23 million a year ago despite lower revenue, helped by lower tax expense in the quarter.

Gas Malaysia 4Q profit up 9% on lower tax expense, declares 8.42 sen dividend

MORE than two-thirds of large-scale solar capacity awarded under the 2021 awards (LSS4) have missed the end-2023 commercial operation date (COD). A number of solar power developers are seeking extensions to the COD of their LSS4 projects, in light of sizable compensation charges of RM5,000 per me...

Fadillah says no more time extensions for delayed LSS4 projects 

Malaysian equities got off to a mixed start in 2024. Big- and mid-cap companies traded higher, led by a 5% gain in the KLCI to date, while the ACE Index fell 8%, dragged by poor sentiment following a recent margin call shock among penny stocks.

These are the stocks analysts favour for 2024

Bursa Malaysia continued its upbeat momentum to end higher for the second straight day on Thursday, due to an improvement in sentiment and a resurgence in bargain-hunting following the recent downturn, said an analyst.

Bursa closes higher on improved sentiment, bargain hunting

Japanese companies have agreed to raise pay by 5.20% on average this year, the biggest rise in 33 years, the country's largest union group Rengo said on Thursday, wrapping up its fourth tally of the 2024 labour talks.

Japan said to see biggest pay hikes in 33 years

Malaysia needs to restructure the whole ecosystem of technical and vocational education and training (TVET) programmes, so that it can effectively meet the industry’s requirements, said Federation of Malaysian Manufacturers (FMM) president Tan Sri Soh Thian Lai.

Revamp needed for TVET ecosystem to reduce mismatch, says FMM president

(April 18): HeiTech Padu Bhd said on Thursday that Datuk Wira Farhash Wafa Salvador Rizal Mubarak has ceased to be its substantial shareholder.

Farhash, a former aide to Prime Minister Datuk Seri Anwar Ibrahim, is deemed no longer to be a substantial shareholder by virtue of the change ...

HeiTech Padu says former Anwar aide Farhash no longer its substantial shareholder

Malaysia Airlines is offering affected customers a one-time change to their travel itinerary free of charge, or opt for a full refund, irrespective of their fare family, due to Indonesia’s Mount Ruang volcanic eruption.

Volcanic eruption: Malaysia Airlines offers one-time change or full refund to affected passengers

Norway’s US$1.6 trillion (RM7.65 trillion) sovereign wealth fund underperformed its benchmark in the first quarter, with returns coming up short for a second consecutive report.

Norway's US$1.6 tril fund misses benchmark with 6.3% return

China's former deputy central bank governor, Fan Yifei, was charged with illegally accepting property totalling more than 386 million yuan (US$53.32 million or RM253.02 million), directly or through his relations, China's state television CCTV reported on Thursday.

Former PBOC deputy governor charged with illegally accepting US$53.3 mil in property

The Farmers' Organisation Authority (LPP) will apply for an additional quota of local white rice if the existing allocation is insufficient to overcome the shortage in the market, said its director general  Datuk Azulita Salim.

Govt to get request for additional local white rice quota if needed

(April 18): The world’s largest crypto exchange Binance has converted the entire pool of assets held in an emergency fund for users into USDC, the stablecoin issued by US firm Circle Internet Financial.

Binance converts its billion-dollar ‘Safu’ emergency fund into stablecoin USDC

Perikatan Nasional (PN) has welcomed the government's decision to allocate funds to elected representatives from the opposition.

Opposition Leader Datuk Seri Hamzah Zainudin, in a statement on Thursday, however, said that PN will decide on the matter after perusing the terms of the draft memorandum of understanding (MOU) being prepared by the government.

PN welcomes govt's decision to extend allocations to opposition reps

The Malaysian aviation industry may be badly impacted on passenger traffic and spikes in jet fuel prices if a full-blown war results from escalating geopolitical tensions in the Middle East, according to Maybank Investment Bank Research (Maybank IB).

Malaysia's aviation industry at risk amid full-blown crisis in Middle East — Maybank IB

Shares of PIE Industrial Bhd extended its rally to a new all-time high on Thursday, after Kenanga Investment Bank flagged that the electronic services firm has secured a new client that will take up the entirety of its largest facility.

PIE Industrial extends rally to new all-time high as Kenanga flags new client

Several Malaysia Airlines and AirAsia flights between Sabah, Sarawak, and Kuala Lumpur International Airport (KLIA) were cancelled on Thursday due to volcanic eruption at Mount Ruang, Indonesia.

Malaysia Airlines, AirAsia cancel flights to Sabah, Sarawak after volcano eruption in Indonesia

Alphabet Inc’s Google has put more than two dozen employees on immediate administrative leave after they were involved in protests against Project Nimbus, a US$1.2 billion (RM5.7 billion) joint contract with Amazon.com Inc to provide the Israeli government with AI and cloud services.

Google fires workers protesting US$1.2b Israeli contract

The race for the “world’s best airport” crown has been a two-horse affair in recent years, with Doha’s Hamad International and Singapore Changi leading the pack.

Singapore loses ‘world’s best airport’ crown to Qatar

The Federal Court on Thursday dismissed an appeal by the Petaling Jaya City Council (MBPJ) over the Court of Appeal’s decision last year that decided that non-paying members in a residential area (RA) could raise the boom gates at the entrance to the housing area themselves without the security guards' assistance.

Federal Court dismisses MBPJ’s appeal on residents' boom gate operation

Gold prices may correct amid potential delay in the anticipated rate cuts by the US Federal Reserve, Philip Capital warned on Thursday and advised investors to stop buying Malaysia’s sole gold exchange-traded fund (ETF).

Stop buying gold ETF as prices may correct — Philip Capital

Feytech Holdings Berhad (Feytech) has entered into an underwriting agreement with TA Securities Holdings Berhad and AmInvestment Bank Berhad (joint underwriters) for the company’s Initial Public Offering (IPO) on the Main Market of Bursa Malaysia Securities Berhad.

Feytech inks underwriting agreement with TA Securities, AmInvestment en route to Main Market IPO  

Sin-Kung Logistics Bhd has started taking orders from investors for its initial public offering (IPO) that may raise up to RM39.5 million ahead of its listing on Bursa Malaysia’s ACE Market.

Sin-Kung Logistics launches ACE Market IPO to raise RM39.5 mil

Apple Inc chief executive officer Tim Cook will meet Singapore’s leader at the tail end of his most extensive Southeast Asia tour in years, searching for new growth markets and manufacturing locations to offset headwinds in China.

Apple CEO to meet Singapore leader to wrap whirlwind Asia tour

President Joe Biden called China “xenophobic” while highlighting the Asian nation’s economic woes, as he sought to make the case for US economic strength during a campaign stop in the swing state of Pennsylvania.

Biden calls China ‘xenophobic’, ramping up 2024 campaign rhetoric

KUALA LUMPUR (April 18): Smart Asia Chemical Bhd has signed an underwriting agreement with Mercury Securities Sdn Bhd for the company’s initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Bhd.

Smart Asia Chemical inks underwriting agreement with Mercury Securities en route to ACE Market IPO

Research analysts covering IGB Real Estate Investment Trust (IGB REIT) remained sanguine on the stock’s prospects after it reported a 4.79% jump in its net property income (NPI) for the first quarter ended March 31, 2024 (1QFY2024) to RM124.24 million, from RM118.55 million a year earlier, thanks largely to higher rental income.

Analysts remain sanguine on IGB REIT’s prospects going forward

Hong Leong Investment Bank (HLIB) research said Cloudpoint Technology Bhd is well positioned to capitalise the burgeoning demand for cyber security solutions post-passage of the cyber security bill which was passed in Dewan Rakyat on April 3.

HLIB: Cloudpoint well positioned to capitalise burgeoning demand for cyber security solutions

Elon Musk said some of the severance packages sent to former Tesla Inc employees as part of its biggest-ever workforce reduction were too low.

Musk apologises for ‘incorrectly low’ Tesla severance packages

KUALA LUMPUR (April 18): Food and supplement company OB Holdings Bhd said on Thursday that it has secured approval from Bursa Malaysia for an initial public offering (IPO) on the bourse’s ACE Market, to raise funds for expansion.

OB Holdings gets approval for ACE Market IPO, targets listing in 4Q

Bursa Malaysia turned mixed at the midday break on Thursday with the key index ending the morning session in positive territory, in tandem with regional markets, said a dealer.&nbsp;

Bursa mixed at midday break, key index up

Alphabet-owned Google&nbsp;is laying off an unspecified number of employees, a company spokesperson said on Wednesday, marking the latest cuts at the technology giant as it cracks down on costs.

Google lays off employees, shifts some roles abroad amid cost cuts

Axiata Group Bhd, Malaysia’s largest telecommunications company by revenue, and India’s Bharti Airtel Ltd signed a definitive agreement on Thursday to combine their Sri Lankan operations.

Malaysia’s Axiata, Bharti Airtel of India to combine Sri Lankan ops

The Malaysian Bar argued in court that its challenge against Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi's conditional discharge is not academic as it may determine the fate of the Yayasan Akalbudi graft case.

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